IRS
New GOP Congress Passes Bill Erasing $71 Billion of IRS Funding
Those who supported the original funding bill say the increase will help the agency increase collections on existing tax laws, and therefore increase revenue, by ...
Congress Wants a Refund: Votes to Delete Most of $80 Billion Boost in IRS Funding
The bill had been a 2022 campaign priority for most GOP Congressional candidates, but to take effect, it would need to next pass in the ...
How to Prepare for the Corporate Minimum Tax
A corporate alternative minimum tax (CAMT) will apply to certain corporations reporting more than $1 billion in annual adjusted book income averaged over a three-year period...
IRS Corrected 14 Million Tax Returns with Average Refund of $1,232
Many of the 12 million refunds come from a change in the way unemployment insurance was taxed.
Rescinding IRS Funding Among the Many Bills House Majority is Itching to Pass
The first bill in the GOP package aims to rescind the increased funding for the IRS in the Inflation Reduction Act.
Help Your Startup Clients Avoid These 7 Tax Mistakes
As trusted advisors, CPAs have the knowledge and expertise to provide our clients with accurate and timely advice on a wide range of tax and financial matters.
11 Men Indicted in Multimillion-Dollar Sports Betting Ring Tax Evasion Case
The sports betting organization they managed evaded tens of millions of dollars in excise taxes for three years.
IRS Audits Dropped Slightly in 2022
Low-income wage-earners taking the earned income tax credit had a higher-than-expected audit rate, report says.